Ontario Real Estate Market Report for August 13 2026

By Avi Samaroo and Quan Ve · 2026-08-13

Ontario new home sales surged in the second quarter following tax changes. Meanwhile, the GTA resale market continues to show reduced activity compared to last year.

Today's Ontario Real Estate Headlines

The most significant development in the provincial housing sector is a sharp rise in new construction purchases. According to reports from August 12, 2026, new home sales in Ontario climbed by 130% during the second quarter. This growth follows the implementation of an enhanced provincial sales tax rebate program. This percentage indicates that the specific financial incentive has successfully motivated a notable segment of the market to purchase new build homes. Despite this surge, the condominium sector continues to struggle. Current analysis suggests that condo sales remain substantially lower than typical historical benchmarks for this time of year.

Interest Rates and Mortgage Costs

There is no new verified data to report regarding interest rates today. We do not have access to confirmed updates on the Bank of Canada overnight rate, current prime lending rates, or specific mortgage product pricing as of August 13, 2026. We choose to report only on verified figures to ensure our advice remains accurate for your financial planning. We recommend speaking with your mortgage professional to get the most recent figures relevant to your specific situation.

Government and Policy Changes

We have reviewed federal, provincial, and municipal sources from the last 48 hours and found no new housing policy announcements. The landscape remains consistent with the previously established measures, including the enhanced HST rebate that recently impacted new home sales. We will continue to monitor official government channels for any updates that may affect buyers, sellers, or investors in the Ontario market. If any adjustments to local or provincial housing policy emerge, we will provide an analysis of how those changes might impact your real estate portfolio.

Market Numbers Across the GTA

The Toronto Regional Real Estate Board released figures on August 6, 2026, summarizing the market performance for July. The data reflects a cooling trend in overall volume and pricing compared to the previous year.

Total GTA home sales were 5,995, which is a 0.9% decrease year-over-year.
New listings reached 14,484, representing a 17.8% decline from the same period last year.
The average selling price sat at $1,003,956, a drop of 4.5% year-over-year.
The composite benchmark price decreased by 4.6% year-over-year.
Total active listings numbered 26,098, showing a 12.1% reduction compared to the previous year.

These figures demonstrate that while price points have adjusted downward, the supply of available homes is also tighter than it was at this time last year.

What Is Happening Locally

As of August 13, 2026, there are no specific local pre-construction launches or significant infrastructure milestones to report in the immediate area. Our focus remains on tracking projects that directly impact property valuations and buyer demand. We maintain a constant watch on community developments, from transit expansion updates to new zoning changes, to ensure you are informed of any movement that could influence your neighborhood. We will provide updates the moment official information regarding new developments or civic milestones becomes available.

What This Means If You Are Buying or Selling

The current market data shows that sellers are facing a lower average price than last year, while buyers are benefiting from a broader trend of price softening. The 4.5% decline in average selling price suggests a shift in negotiating power. Meanwhile, the 130% spike in new home sales highlights that government incentives are successfully driving interest in the new construction segment. For those looking to sell, the reduction in total active listings may help stabilize your position. For those looking to buy, the current price points provide a different entry opportunity than what was seen in the previous year. We recommend assessing your long-term goals against these current market metrics before making a move.

Sources We Read Today

https://thehub.ca/2026/08/12/ontario-new-home-sales-jump-130-percent-after-enhanced-hst-rebate-but-condo-market-still-lags/
https://www.cp24.com/local/toronto/2026/08/06/greater-toronto-home-sales-tick-lower-in-july-as-prices-fall-real-estate-board/